Bitcoin Whales Sell Off $1.2 Billion In BTC To Go All-In On This Ethereum Token
The post Bitcoin Whales Sell Off $1.2 Billion In BTC To Go All-In On This Ethereum Token appeared first on Coinpedia Fintech News
Market data reveal that Bitcoin whales have sold off up to $1.2 billion worth of BTC as they take profit, twice as high as the previous record for profit taking on Bitcoin (BTC). This development has raised intense speculation regarding the market conditions, and the curiosity around this subject matter has brought to light Bitcoin whales rotating to a new investment opportunity. The new Ethereum token, ETFSwap (ETFS), has ramped up presale numbers this week following increasing whale activity on the coin.
ETFSwap (ETFS) See Growing Investment On Presale
ETFSwap (ETFS) has recorded massive whale activity in the past few weeks, suggesting enormous migration from other crypto assets into the presale token. ETFSwap (ETFS) is a blockchain-based platform that offers global accessibility to tokenized ETFs backed by real ETF securities. These assets are managed via MiCa-compliant financial institutions that trade the securities and crypto market.
The excitement ahead for the launch of spot Ethereum ETFs has drawn massive investment from crypto whales. As experts believe, ETFSwap (ETFS) is poised as the only decentralized platform to onboard native crypto users looking to diversify investment into the global ETF market. The Ethereum-based platform will list ETFs from industries like technology, healthcare, and energy, including available crypto ETFs and potential ones to come.
Experts believe ETFSwap (ETFS) could rally for 108x returns due to expectations for Solana (SOL) and Ripple (XRP) ETFs. In addition to its first-mover advantages, the ceiling for the new ETF trading platform is unimaginable, and the ongoing presale has been a huge opportunity for early investors to get in for cheap.
Activity has ramped up on ETFSwap (ETFS) amid the announcement that it will launch its beta platform within the next month. This beta launch will allow early adopters to test some of the exciting features available on this innovative platform. The AI-enabled ETF Screener and ETF Finder are unique drivers of the upcoming platform and will help users with recommendations based on extensive data analysis.
Market Data Shows Bitcoin Whales Dumping Their BTC Bags
CryptoQuant has reported a massive sell-off on BTC as Bitcoin whales exited with up to $1.2 billion in profits in the past two weeks. On-chain data shows that Bitcoin whales are selling their BTC at a price higher than when they first received them on-chain, but this profit-taking poses some consequences on Bitcoin’s (BTC) price action.
According to CryptoQuant’s Head of Research, the only comparable event was when whales took $683 million in profits on Bitcoin (BTC) in a day when the cryptocurrency traded at $40,000 in April 2022. At the time, Bitcoin whales sold over 17,000 BTC, but in the recent two-week period, they only saw sales of 14,000 BTC, but with a much higher USD value.
While it’s evident that Bitcoin whales took advantage of higher prices on the crypto asset to take out profit, it comes at a time when spot Bitcoin ETFs have recorded $300 million outflows in the past few days. In other news, mining companies have been selling BTC to stay afloat or explore other avenues, such as AI mining.
As of this writing, Bitcoin (BTC) is trading at $65,082, which experts believe is a crucial support for the cryptocurrency, considering a lot of recent traders bought in at that price range. Analysts believe a drop below this support area could cause recent investors to panic sell, leading to further price drawdowns.
However, recent market trends in the new Ethereum-based token ETFSwap (ETFS) show that Bitcoin whales have been pivoting to new presale for higher profit prospects.
Conclusion
As most whales have figured out, ETFSwap (ETFS) offers a higher profit margin than Bitcoin (BTC), and it is interesting to see huge funds cycling into the ongoing presale. The new ETF trading platform is offering its presale token at a massive discount from the projected launch price, and investors are capitalizing on the opportunity to make massive profits.
Don’t miss out on life-changing gains; get in now at $0.01831 before the price increases to $0.03846 in the next presale stage.
For more information about the ETFS Presale:
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